Following the deal, Biogenis took over all contracts signed by FreezeLife and samples will be transferred to its laboratory.
FreezeLife is licensed by the National Transplant Agency.
The acquisition is aimed at consolidating the position of Biogenis on the Romanian stem cell market, the company’s marketing manager Cristian Lacraru said in a press release Friday.
According to Trade Registry data, Polish stem cell bank Polski Bank Komórek Macierzystych owns 66% of Biogenis, while the remaining stake is controlled by Dorin Parciog and Dan Mihai.
Biogenis is present in Romania since 2007 and is part of European group FamiCord.
In 2009, Biogenis opened a stem cell bank in Bucharest following an investment worth approximately EUR1 million.